Because of the Improved Communication and Transportation Infrastructures and the Education

question 143

Multiple Choice

Because of the improved communication and transportation infrastructures and the education level of the population during the past 20 years,many international businesses are moving toward a system in which foreign factories are viewed as:

• A)low-cost manufacturing facilities.
• B)globally dispersed centers of excellence.
• C)liabilities.
• D)sweatshops.

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Definitions:

Reasonable Decision

A choice made after careful consideration of facts and logical reasoning, often seen as sensible or practical.

Problem Recognition

The initial step in the decision-making process where individuals realize the difference between their current state and a desired state.

Satisficing Solution

A decision-making strategy that aims for a solution that is good enough, rather than optimal, based on the available information and resources.

Herbert Simon

An economist, political scientist, and cognitive psychologist who made significant contributions to the fields of artificial intelligence, economics, and cognitive psychology, and who was awarded the Nobel Prize in Economics in 1978.